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COVID-19 INFORMATION UPDATE

Our team of expert analysts are working hard to understand exactly what the COVID-19 impact will be across every market and sector that we cover.

Our COVID-19 Hub describes our methodology and collects all of our related reports and data points in one place.

Banks & Healthcare Providers to Profit

Juniper expects dramatic cost savings to be made in the healthcare and banking sectors, as enquiry resolution times are reduced and cost savings boosted. Research author Lauren Foye explained: “We believe that healthcare and banking providers using bots can expect average time savings of just over 4 minutes per enquiry, equating to average cost savings in the range of $0.50-$0.70 per interaction. As Artificial Intelligence advances, reducing reliance on human representatives undoubtedly spells job losses.”

Juniper found that many bots are suited to enquiries such as healthcare diagnosis, where users can select predefined answers allowing bots to assess health issues and provide a recommended course of action. However, as AI capabilities advance, bots will be able to aid in more sophisticated healthcare diagnostics, such as monitoring and analysis of mental health.

Juniper forecast that the success rate of bot interactions in the healthcare sector (those completed without relocation to a human operator) will move from 12% currently, to over 75% in 2022. In the banking sector, Juniper expects this to reach over 90% in 2022.

Other Channels Ripe for Development

Meanwhile SMS chatbots, which are likely to be less successful in generating revenues than app-based bots, can offer a ubiquitous service for mass messaging. Governments, for example, could use chatbots in times of emergency.

Juniper believes that A2P messaging providers will adopt chatbots as a means to offer information to consumers and forecasts the number of A2P SMS sent from chatbot interactions to exceed 100 billion by 2022.